Just as with purchasing common or preferred shares you will pay transaction costs for each purchase and sale. In addition to transaction costs the investment manager will charge an ongoing management expense ratio (MER) and will incur operation and administration expenses which are paid by the fund.
If you hold the shares inside an account that charges an annual service or management fee, then you will not typically incur transaction costs, but you will pay an annual fee. (See the Annual Fee Account section in Investment Costs)
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